Avaland Berhad (“Avaland”) announced on 28 April 2026 that Nexus Advertising Sdn Bhd, its wholly owned subsidiary, has entered into a conditional agreement with Tong Ah Company Sdn Bhd to acquire three adjoining parcels of freehold land (“the land”) in Taman U-Thant, Kuala Lumpur, for a total cash consideration of approximately RM86.04 million.

The land, measuring a combined 7,612.63 square metres, is intended for a high-rise residential development with an estimated gross development value of RM700 million. This acquisition will further enhance Avaland’s presence in the luxury residential segment, building on the success of its earlier luxury developments, Aetas Damansara and Aetas Seputeh.
 
Completion of the acquisition is targeted by the first quarter of 2027, and the acquisition is aligned with Avaland’s long-term strategy to strengthen and expand its footprint in the Klang Valley. 

Skrine advised Avaland in this matter. The team comprised Partner Jesy Ooi and Associate Cynthia Lam.
 
Media coverage of the transaction can be accessed at:
 
https://theedgemalaysia.com/node/801641
 
https://www.edgeprop.my/content/1915981/avaland-pays-rm86m-taman-u-thant-land-targets-rm700m-gdv-luxury-high-rise
 
https://www.thestar.com.my/business/business-news/2026/04/29/avaland-buys-taman-u-thant-land-for-rm86mil
 
https://www.bernama.com/bm/news.php?id=2550595
 
https://www.businesstoday.com.my/2026/04/28/avaland-acquires-prime-u-thant-land-for-rm86-million-for-luxury-residential-project/